NACOGDOCHES, TX (KTRE) - The Hotel Fredonia could benefit from legislation written and approved specifically for the foreclosed hotel's benefit.
The bill allows a portion of the Hotel Occupancy Tax collected in Nacogdoches to be used for the renovation and reopening of the Historic Hotel Fredonia and Convention Center.
State Rep. Travis Clardy, R-Nacogdoches, ushered the legislation through.
Meanwhile, Texas Bank attorney Paul Clark says a 30-day extension on the 90-day due diligence contract is in the works. That would give Nacogdoches businessman and restaurant owner Richard DeWitt until at least the third week in July to decide on the business deal.
DeWitt is conducting a feasibility study. Bankers said previously that expenses could add up to over $6 million.